Option Millionaires

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Piper Jaffray 'disappointed' Biogen decided to settle with Forward Pharma
Piper Jaffray analyst Joshua Schimmer said he is "somewhat disappointed" that Biogen (BIIB) decided to settle with Forward Pharma (FWP) related to patents for Tecfidera, as he did not view the patent as strong to begin with and continues to expect multiple paragraph IV filers to challenge Tecfidera in 2018. However, if this agreement can delay generic entry by just a few months that could cover the cost of the settlement, noted Schimmer. The analyst, who thinks a strong launch for Spinraza in SMA and Alzheimer's optionality more than offset Biogen's fading dominance in multiple sclerosis, keeps an Overweight rating and $335 price target on the stock